A. P3,600,000B. P3,725,000C. P4,025,000D. P5,025,000E. answer not given The adjusted trial balance of ABC Co. included the followingexpenses for 2020:Accounting and legal feesAdvertisingDoubtful accounts1,450,0001,500,000150,000125,000750,00050,000600,000300,000Freight inFreight outInsuranceInterest expenseLoss on sale of equipmentOfficers' salaries2,250,000Property taxesRent for office spaceResearch and development expenseSales salaries and commissions250,0001,800,0001,000,0001,400,000Half of the rented premises is occupied by the sales department.How much should be reported as administrative expenses for2020?

Name: A. P3,600,000B. P3,725,000C. P4,025,000D. P5,025,000E. answer not give
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Description: A. P3,600,000B. P3,725,000C. P4,025,000D. P5,025,000E. answer not given The adjusted trial balance of ABC Co. included the followingexpenses for 2020:Accounting and legal feesAdvertisingDoubtful accounts1,450,0001,500,000150,000125,000750,00050,00060

Administrative expense: It is an expense that is not tied up with the function like production or…

Business

Accounting

The adjusted trial balance of ABC Co. included the following expenses for 2020: Accounting and legal fees Advertising Doubtful accounts 1,450,000 1,500,000 150,000 Freight in Freight out 125,000 750,000 50,000 600,000 Insurance Interest expense Loss on sale of equipment 300,000 2,250,000 250,000 1,800,000 Officers' salaries Property taxes Rent for office space Research and development expense Sales salaries and commissions 1,000,000 1,400,000 Half of the rented premises is occupied by the sales department. How much should be reported as administrative expenses for 2020?

The adjusted trial balance of ABC Co. included the following expenses for 2020: Accounting and legal fees Advertising Doubtful accounts 1,450,000 1,500,000 150,000 Freight in Freight out 125,000 750,000 50,000 600,000 Insurance Interest expense Loss on sale of equipment 300,000 2,250,000 250,000 1,800,000 Officers' salaries Property taxes Rent for office space Research and development expense Sales salaries and commissions 1,000,000 1,400,000 Half of the rented premises is occupied by the sales department. How much should be reported as administrative expenses for 2020?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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